outlined in Rule 2.3 of the PRA Contractual Stay Rules; “BRRD undertaking”, “group”, “Special Resolution Regime” and “termination right” have the respective meanings given in the PRA Contractual Stay Rules.
The representations, warranties and covenants of the Seller, and each Purchaser’s and Agent’s right to indemnification with respect thereto, shall not be affected or deemed waived by reason of any investigation made by or on behalf of any Purchaser or Agent or by reason of the fact that any Purchaser or Agent knew or should have known that any such representation or warranty is, was or might be inaccurate or by reason of any Purchaser’s or Agent’s waiver of any condition set forth in Section 10, as the case may be.
NOTICE REGARDING CLIENT MONEY RULES
Barclays is a CRD credit institution (as such term is defined in the rules of the FCA), and holds all money received and held by it in such capacity hereunder as banker and not as trustee. Accordingly, money that is received and held by Barclays from Seller will not be held in accordance with the provisions of the FCA’s Client Asset Sourcebook relating to client money (the “Client Money Rules”) and will not be subject to the statutory trust provided for under the Client Money Rules.
In particular, Barclays shall not segregate money received by it from Seller from other money of Barclays, and Barclays shall not be liable to account to any clients for any profits made by it as banker of such cash and upon failure of Barclays, the client money distribution rules within the Client Asset Sourcebook (the “Client Money Distribution Rules”) will not apply to these sums and so no client will be entitled to share in any distribution under the Client Money Distribution Rules.
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